Since both leaders of US and Iran said they do not want a war, so the fear of a war breaking out is fading away (which is pushing gold down)

But the thing is that I don't think the situation is the same for Iran as it is for US..
Iran can't just forget about the confrontation with US since the economy is crumbling and US is emposing more sanctions to make things even worse.. So unless they allow Iran to sell oil (highly unlikely as it makes the sanctions pointless) Iran will have to escalate tentions again around hormuz strait (threatening to close it unless they get relief from sanctions) to try to force their way into international trade.
Considering the US current leader aim of regime change in Iran, there is no way the two countries can get along.

There is also that whole Ukrainian plane thing that's putting pressure on Iran's government and the Iraqi government attempt to get US troops out of Iraq (threatening to stop selling oil unless they leave, and Trump saying "I don't care, USA don't need your oil")

So overall, I still believe this is just the calm before the storm.